Quote from: tg88 on September 06, 2018, 10:23:55 AM

Quote from: adaseb on September 06, 2018, 07:06:25 AM

I think the reason why we are getting such a drop is because people are sitting at negative ROI and it leads to these sell pressures.

Basically if you ever frequent the ethereum reddit most people on there basically dump their ETH for USD as soon as they get a payout from the pool because they need to pay for their 1080Ti and their electricity.

In a panicky market such as today, there are less willing buyers but the same amount of miners which dump prematurely and cause these huge 25% declines.

Also there are people who bought all their GPUs on Newegg and bought $20K worth of equipment and are paying interest at 20% APR which is like $300 a month in interest which isn't even enough from their mining profits. The same happened in 2014.

Action and reaction.

Yep and those people wont be back. Keep this shit up and the users of crypto will beg for regulation. Problem with price is this system is running out of fools. End game is for a cheap reliable way to transfer money. If the price is at moon how will it be economical. Stop fooling yourself into thinking you will get rich. Their is far smarter people with more money than they know what to do with. They are reading these posts and laughing at our expense. Its a shameful act but such is life. And those of you laughing at bitmain. Soon you will be in the same predicament. If bitmain cant figure it out. What makes you so sure you have it figured out. Buyer Beware!!!